NinjaTrader Trade Protection
The NinjaTrader Risk Manager Trade Protection Panel allows you to manage your risk when there have been consecutive losers, a trade is at risk or many losing positions, you can send Temegram alerts, automatically close positions and also lock yourself out from further trading using the Lock-Out Feature.
ACCOUNT LOCKING FEATURE
One of the most useful features of the NinjaTrader Risk Manager is the ability to stop the trader from submitting new orders when a trade rule has been set, an example would be when a Net or Daily profit has been achieved and it is time to stop trading for the day or when the account equity has dropped a set percentage. If for any reason you want to override this, you will need to restart NinjaTrader.
Alarm Types
There are currently 8 different alert types including the account lock out feature, and these are the most common events that are required to project your account.
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Close All Positions - At a preset time each day, you can close all open positions, this is useful before the market closes for trading and you do not get any nasty surprises when it reopens.
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When There are (x) Losing Positions - As soon as there are a set number of positions that are losing you can trigger one of the alert events above.
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When There are (x) Winning Positions - As soon as there are a set number of positions that are winning you can trigger one of the alert events above.
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When There are (x) Consecutive Losers - As soon as there are a set number of positions that have lost in a row you can trigger one of the alert events above, this helps identify when a trader should stop opening trade positions in this direction and works well with an automated trading system.
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When There are (x) Consecutive Winners - As soon as there are a set number of positions that have won in a row you can trigger one of the alert events above.
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When Any Position is (x) Pips Down - When any position is a set number of pips in the red and losing you can trigger one of the alert events above.
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When Any Position is (x) Pips Up - When any position is a set number of pips in the green and winning you can trigger one of the alert events above.
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When There are (x) Positions With No Stop Loss - When there are a set number of positions that have no stop loss you can trigger one of the alert events above.
Lock Account
The checkbox at the end of the alarm type will allow you to also lock the account and prevent you from submitting new orders when the alarm has been activated, you will still be able to close and manage existing trades, but not sumbit new ones.
Alarm Events
There are various events to choose when you set up and alarm, you can choose any of the ones listed below as well as an optional Lock Account option, this can be turned on or off by checking the box.
- (Do Nothing) - no event will happen.
- Pop-up message - displays a pop-up box on the screen with the alert, you will need to close the message when you have read it.
- Email message - send you an email that you configured in the settings tab with details of the account event.
- Telegram Bot - send you a FREE Instant message to your telegram bot.
- Voice alert - a voice in English will be heard telling you of the account event that has just occurred.
- Close Position - closes a single position when for example it is 20 pips in profit and sends an email.
- Close all positions - close all open positions when an event occurs and send an email.
- Close winning positions - close only winning positions and send an email.
- Close losing positions - close only losing positions and send an email.
Switch On/Off
You can turn the alert events on or off by moving the slider left or right untill it shows On or Off.
Display Messages
You also have the option to configure how the pop up messages are displayed by clicking on the notepad icon on the right of the alarm event dropdown option.
